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Was partial privatization of Peru Social Security included in the Peru trade agreement?

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antigop Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-09-07 09:42 AM
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Was partial privatization of Peru Social Security included in the Peru trade agreement?
Was partial privatization part of the final agreement?
http://thehill.com/business--lobby/critics-of-peru-fta-call-democrats-hypocritical-about-social-security-2007-06-14.html


This link talks about the House version -- what was in the final version?

Critics of a U.S. trade deal with Peru say House Democrats are violating their party’s principle that social security systems should not be privatized by backing a deal that could lock in a partially privatized system in Peru.

In a letter to House Speaker Nancy Pelosi (D-Calif.), several Peruvian labor groups charged the deal would provide protections for Citigroup to sue Peru under the trade agreement’s dispute settlement system if a future Peruvian government were to nationalize the country’s partially privatized retirement system.

As a result, the groups, backed by the advocacy group Public Citizen, say the Peru deal should be rejected or at least changed to ensure that Citigroup, which partially owns a company licensed to participate in the Peru retirement system, could not sue Peru for compensation on its expected future earnings if Peru nationalizes its system.
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